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Thursday, June 24, 2010

United Kingdom, Birmingham Cost of Living April 2010

Country Full Name: United Kingdom of Great Britain and Northern Ireland.

Location: The United Kingdom is in Western Europe, and consists of islands including the northern one-sixth of the island of Ireland between the North Atlantic Ocean and the North Sea, northwest of France.

Country Climate: Temperate; moderated by prevailing southwest winds over the North Atlantic Current; more than one-half of the days are overcast.

Country Terrain: Mostly rugged hills and low mountains; level to rolling plains in east and southeast.

Major Languages: English.

Major Religions: Christianity.

Country Population: 61.3 million (2008 est.) 61.5 million (2009 est.).

Country Economy: The economy of the United Kingdom is that of a major developed capitalist economy. The United Kingdom is one of the world's most globalised countries. The British economy is made up of the economies of England, Scotland, Wales and Northern Ireland. In 1973, the UK acceded to the European Economic Community which is now known as the European Union after the ratification of the Treaty of Maastricht in 1993. The UK economy had been one of the strongest EU economies in terms of inflation, interest rates and unemployment, all of which remained relatively low until the 2008-09 recession, when unemployment rose dramatically, and interest rates fell to 0.5%.

Currency: British Pound (GBP).

Country Inflation: 3.6% (2008 est.) 1.9% (2009 est.).

City: Birmingham is a city and metropolitan borough in the West Midlands county of England.

City Economy: Birmingham grew to prominence as a manufacturing and engineering centre, however its economy today is dominated by the service sector, which in 2003 accounted for 78% of the city's economic output and 97% of its economic growth. Tourism is also an increasingly important part of the local economy. With major facilities such as the International Convention Centre and National Exhibition Centre the Birmingham area accounts for 42% of the UK conference and exhibition trade.Cost of Living: Birmingham has an overall cost of living index which equates it with middle cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups. Birmingham is currently ranked 97 overall, most expensive place in the world for expatriates to live, out of 282 international locations.